Lucid gets another $1.5B cash infusion from Saudis

Lucid has received another $1.5 billion investment from Saudi Arabia, the EV startup said on Monday while announcing its results for the second quarter of 2024. Half of the funds will come in the form of a loan while the remainder will be paid by Ayar Third Investment in return for convertible preferred stock. Ayar Third Investment is Lucid’s main…